BitGo Granted Major Payment Institution License by Singapore's Monetary Authority

BitGo, a leading infrastructure provider for digital asset solutions, has announced that it has obtained a Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS).

The MPI License will enable BitGo to offer a wide range of cryptocurrency-related services in Singapore, including:

• Digital asset custody
• Trading
• Lending
• Settlement

BitGo CEO Youngro Lee said the license is a "new era" for BitGo's international operations.

"This license is a testament to the hard work and dedication of our team," Lee said. "We are committed to providing our customers with the highest level of security and compliance."

BitGo's MPI License is a significant development for the cryptocurrency industry in Singapore. It is a sign that the MAS is supportive of the growth of the cryptocurrency industry and that it is committed to providing a clear regulatory framework for cryptocurrency businesses.

The MPI License is the latest in a series of regulatory approvals for BitGo. In 2021, BitGo obtained a trust charter from the Wyoming Division of Banking and a BitLicense from the New York State Department of Financial Services.